As any fashion retail planner knows, the start of each new season can feel like the beginning of a formidable journey. But it doesn’t have to be like that.
What if it was possible to fly?next
Veltio MAX is a first-time-ever pack of tools
that accelerates decision-making and allows
performance to skyrocket…
by saving precious fashion time!
In most other systems, planners are forced to waste time on tedious administration and data entry tasks when it comes to planning each assortment for a new season, but with Veltio MAX’s science based automation, this all goes away.
Store and Cluster-level assortments are created automatically using high-level strategies, feeding directly into the Assortment Planning process. Multiple placeholder items can be created en masse using Veltio MAX Automated Matching and New Product Forecasting.
Performance of the future assortment is predicted with advanced Veltio science using all the information available for each product, such as price, fabric, colour, brand, as well as each store specific element like climate, demographics and space.
This frees the planner to focus on all the important aspects of range creation
By seamlessly integrating Assortment Space Optimisation with Oracle Assortment Planning, the planner can quickly optimise the new assortments, balancing fixture and facing constraints with space and financial targets.
And that’s not all…
Veltio’s New Product Forecasting underpins the automation process by creating accurate demand forecasts for new products using cutting-edge machine-learning science.
NPF will analyse all the information available for new products such as price, fabric, colour, brand. It will take into consideration store-level behaviours as well, automatically accounting for climate, demographics and space constraints to create continuously updated forecasts for never-before sold products… All with minimal human intervention. It’s not quite rocket science… But it’s close!
So, now we have planned and optimized the new season’s offering by style, colour and store cluster, but how do we break that down even further by size to produce accurate buy-plans?
For most retailers this is another time consuming, data intensive process, that detracts from the real work that needs to be done. Not with Veltio MAX though, which uniquely expands on the power of the Oracle Retail products and frees up yet more time from the process for the fashion planner.
Size Profile Optimization will use historical sales and stock information to create optimized size profiles across stores, ensuring the right sized product ends up in the stores that will actually sell it.
SPO will also automatically create optimal size prepack splits and suggested order quantities using the assortment and forecast information from Veltio MAX.
All this with minimal human intervention, meaning… fast!
Now all we need to do is make sure the right product goes to the right stores.
Veltio MAX’s unique Allocation and Execution (APX) will automatically create optimized allocation orders for single and prepacked products using continuously updated forecasts that take into account the most recent customer behaviour.
APX will allocate to the most profitable stores first, taking into account space and supply chain constraints and optimising for total profit across the entire company.
APX can pre-allocate individual shipments before they are received, while continuously enforcing strategic and merchandising constraints.
After the initial allocation is executed and sales begin, Veltio APX will utilize continuously updated sales and forecasts to automatically replenish stores for single and prepacked products based on the most recent customer behaviour and the most up-to-date pricing and promotion plans.
APX will consider multi tier supply chain constraints to automatically optimize for total profit across the entire company.
Now all that’s left is for us to profitably exit the season before we begin the next. Veltio MAX will help you here too, automatically presenting a clear, optimal strategy for maximizing profitable reductions.
All at the speed of fashion!
Oracle Clearance Optimisation will create optimised markdown schedules taking into account the most recent forecast and stock information, and any pricing constraints across the entire company.
COE is fully integrated with Veltio Allocation and Execution allowing for optimized and automated exit allocations that take into account markdowns, demand uplifts and total costs across the supply chain to optimize profit and sell-through for clearance items.